09:52 AM EST, 11/26/2024 (MT Newswires) -- (Updates with share buyback approval in the sixth paragraph and the latest stock move in the seventh paragraph.)

American Woodmark ( AMWD ) reported fiscal Q2 adjusted earnings Tuesday of $2.08 per diluted share, down from $2.50 a year earlier.

Analysts surveyed by FactSet expected $2.37.

Net sales for the quarter ended Oct. 31 were $452.5 million, compared with $473.9 million a year earlier.

Analysts polled by FactSet expected $458.3 million.

The company reiterated its fiscal 2025 guidance of a single-digit decline in net sales. Analysts polled by Factset expect $1.79 billion.

American Woodmark ( AMWD ) said its board approved the addition of up to $125 million to its Nov. 2023 share buyback plan.

Shares of the company were down 9% in recent Tuesday trading.

Price: 91.81, Change: -9.05, Percent Change: -8.98